Stocks Waver Amid Rising Treasury Yields; Oil Leads, Bitcoin Dips: Thursday's Market Movers
Portfolio Pulse from Shanthi Rexaline
US stock futures are showing signs of a potential rebound after a two-day slide, with Walmart Inc. (NYSE:WMT) seeing premarket gains following its above-consensus Q2 results and upgraded full-year forecast. The market is likely to focus on outcomes from a regional manufacturing survey, jobless claims, and the leading economic index. The SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco QQQ ETF (NASDAQ:QQQ) also saw premarket gains. Stocks in focus include Cisco Systems, Inc. (NASDAQ:CSCO), Avnet, Inc. (NASDAQ:AVT), Wolfspeed, Inc. (NYSE:WOLF), Bilibili, Inc. (NASDAQ:BILI), Children’s Place, Inc. (NASDAQ:PLCE), Bill Holdings, Inc. (NYSE:BILL), Applied Materials, Inc. (NASDAQ:AMAT), Farfetch Ltd. (NYSE:FTCH), and Ross Stores, Inc. (NASDAQ:ROST).
August 17, 2023 | 11:44 am
News sentiment analysis
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POSITIVE IMPACT
Avnet rallied in reaction to its quarterly reports.
The positive reaction to Avnet's quarterly reports indicates strong investor confidence, which could potentially drive its stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Cisco Systems rose in premarket trading following the release of its quarterly results.
The positive quarterly results are likely to boost investor confidence in Cisco Systems, potentially leading to a short-term increase in its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Invesco QQQ ETF gained in premarket trading.
The gain in premarket trading indicates positive investor sentiment towards the Invesco QQQ ETF, which could potentially lead to a short-term increase in its price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust rose in premarket trading.
The rise in premarket trading indicates positive investor sentiment towards the SPDR S&P 500 ETF Trust, which could potentially lead to a short-term increase in its price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Walmart saw premarket gains following its above-consensus Q2 results and upgraded full-year forecast.
The strong Q2 results and upgraded full-year forecast are positive news for Walmart, which is likely to boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Wolfspeed plunged in reaction to its quarterly reports.
The negative reaction to Wolfspeed's quarterly reports indicates a lack of investor confidence, which could potentially drive its stock price down in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80